MIRA INFORM REPORT

 

 

Report Date :           

12.03.2012

 

IDENTIFICATION DETAILS

 

Name :

BEAUTY  GEM  SUPPLIERS

 

 

Registered Office :

A-8, 14/F., Chung King Mansion, 36-44 Nathan Road, Kowloon

 

 

Country :

Hong Kong

 

 

Date of Incorporation :

01.04.1971

 

 

Com. Reg. No.:

03269554-000-04

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Importer and Exporter; Commission Agent of all kinds of precious stones and raw materials of precious stones

 

 

No. of Employees :

02

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Hong Kong

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

BEAUTY  GEM  SUPPLIERS

 

 

Company ADDRESS

 

A-8, 14/F., Chung King Mansion, 36-44 Nathan Road, Kowloon, Hong Kong.

PHONE:            2368 7896,  2368 1590

FAX:                 2368 1450

E-MAIL:            beauty_gems@hotmail.com

 

 

MANAGEMENT

 

Manager:  Mr. V. S. Mohiadeen Thamby

 

 

SUMMARY

 

Establishment:                          1st April, 1971.

 

Organization:                 Partnership.

 

Capital:                         Not disclosed.

 

Business Category:        Precious Stone Dealer.

 

Employees:                   2.

 

Main Dealing Banker:     The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Banking Relation:           Satisfactory.

COMPANY ADDRESS

 

Head Office:-

·         A-8, 14/F., Chung King Mansion, 36-44 Nathan Road, Kowloon, Hong Kong.

·         P.O. Box 96607, Tsimshatsui, Kowloon, Hong Kong.

 

 

BUSINESS REGISTRATION NUMBER

 

03269554-000-04

 

 

MANAGEMENT

 

Manager:                       Mr. V. S. Mohiadeen Thamby

Contact Person:             Mr. M. L. Moosa Naina

 

 

PARTNERS

 

Name:                           Mr. M. L. Moosa NAINA

Residential Address:      Flat C, 12/F., Milton Mansion, 96 Nathan Road, Kowloon, Hong Kong.

 

Name:                           Mr. V. S. Mohiadeen THAMBY

Residential Address:      Flat C, 12/F., Milton Mansion, 96 Nathan Road, Kowloon, Hong Kong.

 

 

HISTORY

 

The company was established on 1st April, 1971 as a partnership concern jointly owned by Mr. M. L. Moosa Naina and Mr. V. S. Mohiadeen Thamby under the Hong Kong Business Registration Regulations.  Once there was a sister company located at the same address named Trade Media in November 1977, but the registration of this firm was revoked in April 1982.

The subject moved to the present address from Flat C, 12/F., Milton Mansion, 96 Nathan Road, Kowloon, Hong Kong (residence of the partners) in January 1972.

Apart from these, neither material change nor amendment has been ever traced and noted.

 

OPERATIONS

 

Activities:                      Importer and Exporter; Commission Agent.

 

Lines:                           All kinds of precious stones and raw materials of precious stones.

 

Employees:                   2.

 

Materials/Commodities:  Imported from India, Sri Lanka, Thailand, etc.

 

Markets:                       Hong Kong, Southeast Asia, Japan, etc.

 

Terms/Sales:-

For local:                       COD

For abroad:                    L/C, T/T, D/P.

 

Terms/Buying:               L/C, T/T, etc.

 

 

FINANCIAL INFORMATION

 

Capital:                         Not disclosed.

 

Profit or Loss:                Making a small profit in the past years.

 

Condition:                      Keeping in a normal condition.

 

Facilities:                      Making rather active use of general banking facilities.

 

Payment:                      Met as required.

 

Commercial Morality:     Satisfactory.

 

Banker:                         The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.

 

Standing:                      Small.

 

 

GENERAL

 

Beauty Gem Suppliers is a partnership concern jointly owned by two Indian, Mr. M. L. Moosa Naina and Mr. V. S. Mohiadeen Thamby, both of whom have been in Hong Kong for a long time.

Established in April 1971, the subject is chiefly a precious stone dealer engaged in importing and exporting precious stones.  It is also a commission agent.

The subject is engaged in importing and selling the following commodities:-

·                                             Alexandrite from Sri Lanka

·                                             Amethyst from India

·                                             Aquamarine from India

·                                             Moonstone from India

·                                             Ruby from Sri Lanka

·                                             Sapphire, Blue from Sri Lanka, Thailand

The subject exports processed alexandrite, ruby, sapphire, blue, etc.  Raw materials are processed in Hong Kong and the products are wholesaled locally or exported to India, Japan and Southeast Asia.  Business is rather active as it has developed business ties with a number of old customers both at home and abroad.  It also has had a number of Indian suppliers.

To our knowledge, besides trading in gem stones, the subject also trades in hides and skins, leather raw materials, fine and imitation jewellery.  It also has got partners in China.

Business administered by Mr. V. S. Mohiadeen Thamby, the subject is also engaged in retailing precious stones.  Business is rather active.

The history of the subject in Hong Kong is about forty-one years.

On the whole, consider the subject good for normal business engagements in moderate credit amounts.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.02

UK Pound

1

Rs.79.00

Euro

1

Rs.66.18

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.